,i #aafth ,,congress #b;d ,session ,h4 ,r4 #fcif ,,in ,,the ,,house ,,of ,,representatives ,march #bf1 #bjbj ,mr4 ,biggs 7for himself1 ,mr4 ,harris1 ,mr4 ,perry1 ,mr4 ,roy1 and ,mr4 ,weber of ,texas7 introduced the following bill2 which was referred to the ,committee on ,ways and ,means1 and in addition to the ,committees on ,education and ,labor1 ,oversight and ,reform1 ,house ,administration1 ,energy and ,commerce1 ,small ,business1 the ,judiciary1 ,financial ,services1 ,veterans' ,affairs1 and ,agriculture1 for a period to be subsequently determined by the ,speaker1 in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned ,a ,,bill ,to provide tax and regulatory relief and health care flexibility to individuals and businesses affected by the #bjbj coronavirus pandemic4 #a4 ,short title ,this ,act may be cited as ,responsible ,relief for ,americans ,act4 ,i ,eliminating paid leave mandate #a4 ,eliminating paid leave mandate 7a7 ,strike section #ajb7;a77#a77;,f7 of the ,family ,medical ,leave ,act of #aiic 7#bi ,u4,s4,c4 #bfab7;a77#a77;,f774 7b7 ,strike section #aaj of the ,family ,medical ,leave ,act of #aiic 7#bi ,u4,s4,c4 #bibj74 7c7 ,strike division ,e of ,public ,law #aaf-abg4 ,,ii ,addressing pharmaceutical supply chain #a4 ,supply chain reporting 7a7 ,section #ejf;,c of the ,federal ,food1 ,drug1 and ,cosmetic ,act 7#ba ,u4,s4,c4 #cef;c7 is amended-- 7#a7 in subsection 7a7-- 7,a7 in paragraph 7#a77;,c71 by inserting or any such drug that is critical to the public health during a public health emergency determined under section #cai of the ,public ,health ,service ,act after during surgery2 and 7,b7 in the flush text at the end-- 7i7 by inserting 1 or a discontinuance or an interruption in the manufacture of the active pharmaceutical ingredients of such drug1 before that is likely2 and 7ii7 by adding at the end the following3 ,notification under this subsection shall include disclosure of reasons for the discontinuation or interruption1 as applicable2 if an active pharmaceutical ingredient is a reason for1 or risk factor in1 such discontinuation or interruption1 the source of the active pharmaceutical ingredient and any alternative sources for the active pharmaceutical ingredient known by the manufacturer2 whether any associated medical devices used for preparation or administration included in the finished dosage form is a reason for1 or a risk factor in1 such discontinuation or interruption2 the expected duration of the interruption2 and such other information as the ,secretary may require42 and 7#b7 by adding at the end the following3 7j7 ,additional manufacturer reporting for essential drugs and devices ,each manufacturer of a drug described in subsection 7a7 shall provide to the ,food and ,drug ,administration1 on an annual basis1 or more frequently at the request of the ,secretary1 information related to the manufacturing capacity of such drug4 ,such information shall include-- 7#a7 details about-- 7,a7 all locations of production2 7,b7 the sourcing of all component parts2 7,c7 the sourcing of any active pharmaceutical ingredients2 and 7,d7 the use of any scarce or raw materials2 and 7#b7 any other information determined by the ,secretary to be relevant to the security of the supply chain of the drug or device4 4 ,,iii ,small ,business ,prosperity ,act #a4 ,increase and expansion of deduction for qualified business income 7a7 ,deduction made permanent ,section #aii;,a of the ,internal ,revenue ,code of #aihf is amended by striking subsection 7i74 7b7 ,deduction ,to achieve a top rate on qualified business income of #ba percent ,subsections 7a77#b71 7b77#a77;,b71 and 7b77#b77;,a7 of section #aii;,a of such ,code are each amended by striking #bj percent and inserting #dc percent 7#dg percent in the case of any taxable year beginning after ,december #ca1 #bjbe74 7c7 ,repeal of limitation based on ,w-#b wages paid with respect to the trade or business ,section #aii;,a7b77#b7 of section #aii;,a of such ,code1 as amended by subsection 7a71 is amended to read as follows3 7#b7 ,determination of deductible amount for each trade or business ,the amount determined under this paragraph with respect to any qualified trade or business is #dc percent 7#dg percent in the case of any taxable year beginning after ,december #ca1 #bjbe7 of the taxpayer's qualified business income with respect to the qualified trade or business4 4 7d7 ,repeal of exclusion of specified service trades or businesses ,section #aii;,a7d7 of such ,code is amended to read as follows3 7d7 ,qualified trade or business ,for purposes of this section1 the term qualified trade or business means any trade or business other than the trade or business of performing services as an employee4 4 7e7 ,conforming amendments 7#a7 ,section #aii;,a7b7 of such ,code1 as amended by subsection 7d71 is amended-- 7,a7 by striking paragraphs 7#c71 7#d71 and 7#f71 and redesignating paragraphs 7#e7 and 7#g7 as paragraphs 7#c7 and 7#d72 and 7,b7 by striking the lesser of-- and all that follows in paragraph 7#d7 7as so redesignated7 and inserting #i percent of so much of the qualified business income with respect to such trade or business as is properly allocable to qualified payments received from such cooperative4 7#b7 ,section #aii;,a7e7 of such ,code is amended by striking paragraph 7#b74 7#c7 ,section #aii;,a7f77#a7 of such ,code is amended to read as follows3 7#a7 ,application to partnerships and ,s corporations 7,a7 ,in general ,in the case of a partnership or ,s corporation-- 7i7 this section shall be applied at the partner or shareholder level1 and 7ii7 each partner or shareholder shall take into account such person's allocable share of each qualified item of income1 gain1 deduction1 and loss4 ,for purposes of this subparagraph1 in the case of an ,s corporation1 an allocable share shall be the shareholder's pro rata share of an item4 7,b7 ,treatment of trades or business in ,puerto ,rico ,in the case of any taxpayer with qualified business income from sources within the commonwealth of ,puerto ,rico1 if all such income is taxable under section #a for such taxable year1 then for purposes of determining the qualified business income of such taxpayer for such taxable year1 the term ,united ,states shall include the ,commonwealth of ,puerto ,rico4 4 7#d7 ,section #aii;,a7f77#d77;,a7 of such ,code is amended by striking and wages4 7#e7 ,section #aii;,a7g77#a7 of such ,code is amended by striking subparagraph 7,b7 and redesignating subparagraph 7,c7 as subparagraph 7,b74 7#f7 ,section #aii;,a of such ,code is amended by striking subsection 7h74 7f7 ,effective date ,the amendments made by this section shall apply to taxable years beginning after ,december #ca1 #bjai4 #b4 ,no taxable event for change of corporate form ,notwithstanding any provision of the ,internal ,revenue ,code of #aihf1 a change in the organizational structure of a corporation1 however organized1 into another organizational structure is not a taxable event for the purposes of such ,code if there is no change among the owners1 their ownership interests1 or the assets of the organization 7other than a de minimis change in such assets74 ,the preceding sentence shall apply to changes in organizational structure occurring after ,december #ca1 #bjai4 #c4 ,repeal of estate tax and retention of basis step-up ,effective for estates of decedents dying after ,december #ca1 #bjai1 chapter #aa of the ,internal ,revenue ,code of #aihf is repealed4 ,,iv ,keeping ,american ,workers ,employed and ,paid ,act #a4 ,definitions ,in this title-- 7#a7 the terms ,administration and ,administrator mean the ,small ,business ,administration and the ,administrator thereof1 respectively2 7#b7 the term covered small business concern means a small business concern that has experienced1 as a result of ,,covid-#ai-- 7,a7 supply chain disruptions1 including changes in-- 7i7 quantity and lead time1 including the number of shipments of components and delays in shipments2 7ii7 quality1 including shortages in supply for quality control reasons2 and 7iii7 technology1 including a compromised payment network2 7,b7 staffing challenges2 7,c7 a decrease in sales or customers2 or 7,d7 a closure2 and 7#c7 the term small business concern has the meaning given the term in section #c of the ,small ,business ,act 7#ae ,u4,s4,c4 #fcf74 #b4 ,paycheck protection program 7a7 ,in general ,section #g7;a7 of the ,small ,business ,act 7#ae ,u4,s4,c4 #fcf7;a77 is amended-- 7#a7 in paragraph 7#b7-- 7,a7 in subparagraph 7,a71 in the matter preceding clause 7i71 by striking and 7,e7 and inserting 7,e71 and 7,f72 and 7,b7 by adding at the end the following3 7,f7 ,participation in the paycheck protection program ,in an agreement to participate in a loan on a deferred basis under paragraph 7#cf71 the participation by the ,administration shall be #ajj percent4 2 and 7#b7 by adding at the end the following3 7#cf7 ,paycheck ,protection ,program 7,a7 ,definitions ,in this paragraph-- 7i7 the terms appropriate ,federal banking agency and insured depository institution have the meanings given those terms in section #c of the ,federal ,deposit ,insurance ,act 7#ab ,u4,s4,c4 #ahac72 7ii7 the term covered loan means a loan made under this paragraph during the covered period2 7iii7 the term covered period means the period beginning on ,february #ae1 #bjbj1 and ending on ,june #cj1 #bjbj2 7iv7 the term eligible recipient means an individual or entity that is eligible to receive a covered loan2 7v7 the term eligible self-employed individual has the meaning given the term in section #gjjb7;b7 of the ,families ,first ,coronavirus ,response ,act 7,public ,law #aaf-abg72 7vi7 the term nonprofit organization means an organization that is described in section #eja7;c77#c7 of the ,internal ,revenue ,code of #aihf and that is exempt from taxation under section #eja7;a7 of such ,code2 7vii7 the term payroll costs-- 7,i7 means-- 7aa7 the sum of payments of any compensation with respect to employees that is a-- 7,,aa7 salary or wage2 7,,bb7 payment of cash tip or equivalent2 7,,cc7 payment for vacation1 parental1 family1 medical1 or sick leave2 7,,dd7 allowance for dismissal or separation2 7,,ee7 payment required for the provisions of group health care benefits1 including insurance premiums2 7,,ff7 payment of any retirement benefit2 or 7,,gg7 payment of ,state or local tax assessed on the compensation of employees2 and 7bb7 the sum of payments of any compensation to a sole proprietor or independent contractor that is a wage1 commission1 or similar compensation and that is in an amount that is not more than #ajj1jjj in #a year1 as prorated for the covered period2 and 7,,ii7 shall not include-- 7aa7 the compensation of an individual employee in excess of an annual salary of #ajj1jjj1 as prorated for the covered period2 7bb7 taxes imposed or withheld under chapters #ba1 #bb1 or #bd of the ,internal ,revenue ,code of #aihf during the covered period2 7cc7 any compensation of an employee whose principal place of residence is outside of the ,united ,states2 7dd7 qualified sick leave wages for which a credit is allowed under section #gjja of the ,families ,first ,coronavirus ,response ,act 7,public ,law #aaf-abg72 or 7ee7 qualified family leave wages for which a credit is allowed under section #gjjc of the ,families ,first ,coronavirus ,response ,act 7,public ,law #aaf-abg72 and 7viii7 the term veterans organization means an organization that is described in section #eja7;c77#ai7 of the ,internal ,revenue ,code that is exempt from taxation under section #eja7;a7 of such ,code4 7,b7 ,small business interruption loans ,except as otherwise provided in this paragraph1 the ,administrator may guarantee covered loans under the same terms1 conditions1 and processes as a loan made under this subsection4 7,c7 ,registration of loans ,not later than #ae days after the date on which a loan is made under this paragraph1 the ,administration shall register the loan using the ,,tin 7as defined in section #ggja of the ,internal ,revenue ,code of #aihf7 assigned to the borrower4 7,d7 ,increased eligibility for certain small businesses and organizations 7i7 ,in general ,during the covered period1 in addition to small business concerns1 any business concern1 nonprofit organization1 or veterans organization shall be eligible to receive a covered loan if the business concern1 nonprofit organization1 or veterans organization employs not more than the greater of-- 7,i7 #ejj employees2 or 7,,ii7 if applicable1 the size standard in number of employees established by the ,administration for the industry in which the business concern1 nonprofit organization1 or veterans organization operates4 7ii7 ,inclusion of sole proprietors1 independent contractors1 and eligible self-employed individuals 7,i7 ,in general ,during the covered period1 individuals who operate under a sole proprietorship or as an independent contractor and eligible self-employed individuals shall be eligible to receive a covered loan4 7,,ii7 ,documentation ,an eligible self-employed individual seeking a covered loan shall submit payroll tax filings reported to the ,internal ,revenue ,service4 7iii7 ,business concerns with more than #a physical location ,during the covered period1 any business concern that employs not more than #ejj employees per physical location of the business concern and that is assigned a ,north ,american ,industry ,classification ,system code beginning with #gb at the time of disbursal shall be eligible to receive a covered loan4 7iv7 ,waiver of affiliation rules ,during the covered period1 the provisions applicable to affiliations under section #aba4ajc of title #ac1 ,code of ,federal ,regulations1 or any successor regulation1 are waived with respect to eligibility for a covered loan for-- 7,i7 any business concern with not more than #ejj employees that1 as of the date on which the covered loan is disbursed1 is assigned a ,north ,american ,industry ,classification ,system code beginning with #gb2 7,,ii7 any business concern operating as a franchise that is assigned a franchise identifier code by the ,administration2 and 7,,iii7 any business concern that receives financial assistance from a company licensed under section #cja of the ,small ,business ,investment ,act of #aieh 7#ae ,u4,s4,c4 #fha74 7v7 ,employee ,for purposes of determining whether a business concern1 nonprofit organization1 veterans organization1 or ,tribal business concern described in section #ca7;b77#b77;,c7 employs not more than #ejj employees under clause 7i77,i71 the term employee includes individuals employed on a full-time1 part-time1 or other basis4 7vi7 ,affiliation ,the provisions applicable to affiliations under section #aba4ajc of title #ac1 ,code of ,federal ,regulations1 or any successor thereto1 shall apply with respect to a nonprofit organization and a veterans organization in the same manner as with respect to a small business concern4 7,e7 ,maximum loan amount ,during the covered period1 with respect to a covered loan1 the maximum loan amount shall be the lesser of-- 7i7 7,i7 the product obtained by multiplying-- 7aa7 the average total monthly payments by the applicant for payroll costs incurred during the #a-year period before the date on which the loan is made1 except that1 in the case of an applicant that is a seasonal employer1 as determined by the ,administrator1 the average total monthly payments for payroll shall be for the #ab-week period beginning ,february #ae1 #bjai1 or at the election of the eligible recipient1 ,march #a1 #bjai1 and ending ,june #cj1 #bjai2 by 7bb7 #b4e2 or 7,,ii7 if requested by an otherwise eligible recipient that was not in business during the period beginning on ,february #ae1 #bjai1 and ending on ,june #cj1 #bjai1 the product obtained by multiplying-- 7aa7 the average total monthly payments by the applicant for payroll costs incurred during the period beginning on ,january #a1 #bjbj1 and ending on ,february #bi1 #bjbj2 by 7bb7 #b4e2 or 7ii7 #aj1jjj1jjj4 7,f7 ,allowable uses of covered loans 7i7 ,in general ,during the covered period1 an eligible recipient may1 in addition to the allowable uses of a loan made under this subsection1 use the proceeds of the covered loan for-- 7,i7 payroll costs2 7,,ii7 costs related to the continuation of group health care benefits during periods of paid sick1 medical1 or family leave1 and insurance premiums2 7,,iii7 employee salaries1 commissions1 or similar compensations2 7,,iv7 mortgage payments2 7,v7 rent 7including rent under a lease agreement72 7,,vi7 utilities2 and 7,,vii7 interest on any other debt obligations that were incurred before the covered period4 7ii7 ,delegated authority 7,i7 ,in general ,for purposes of making covered loans for the purposes described in clause 7i71 a lender approved under this paragraph shall be considered to have delegated authority to make and approve covered loans1 subject to the provisions of this paragraph4 7,,ii7 ,considerations ,in evaluating the eligibility of a borrower for a covered loan with the terms described in this paragraph1 a lender shall consider whether the borrower-- 7aa7 was in operation on ,february #ae1 #bjbj2 7bb7 7,,aa7 had employees for whom the borrower paid salaries and payroll taxes2 or 7,,bb7 paid independent contractors1 as reported on a ,form #ajii-,,misc2 and 7cc7 is substantially impacted by public health restrictions related to the ,coronavirus #bjai 7,,covid-#ai74 7iii7 ,additional lenders ,the authority to make loans under this paragraph shall be extended to additional lenders determined by the ,administrator and the ,secretary of the ,treasury to have the necessary qualifications to process1 close1 disburse and service loans made with the guarantee of the ,administration4 7iv7 ,limitation ,an eligible recipient of a covered loan for purposes of paying payroll costs and other obligations described in this subparagraph shall not be eligible to receive an economic injury disaster loan under subsection 7b77#b7 for the same purpose4 7,g7 ,borrower requirements 7i7 ,certification ,an eligible recipient applying for a covered loan shall make a good faith certification-- 7,i7 that the uncertainty of current economic conditions makes necessary the loan request to support the ongoing operations of the eligible recipient2 and 7,,ii7 acknowledging that funds will be used to retain workers and maintain payroll or make mortgage payments1 lease payments1 and utility payments4 7ii7 ,full-time equivalent employees ,an eligible recipient of a covered loan shall maintain an average monthly number of full-time equivalent employees 7as defined in section #de,r7d77#b7 of the ,internal ,revenue ,code of #aihf7 during the covered period that is not less than the average monthly number of full-time equivalent employees during the applicable period described in subclause 7,i77aa7 or subclause 7,,ii77aa7 of subparagraph 7,e77i74 7,h7 ,fee waiver ,during the covered period1 with respect to a covered loan-- 7i7 in lieu of the fee otherwise applicable under paragraph 7#bc77;,a71 the ,administrator shall collect no fee2 and 7ii7 in lieu of the fee otherwise applicable under paragraph 7#ah77;,a71 the ,administrator shall collect no fee4 7,i7 ,credit elsewhere ,during the covered period1 the requirement that a small business concern is unable to obtain credit elsewhere1 as defined in section #c7;h71 shall not apply to a covered loan4 7,j7 ,collateral and personal guarantee requirements ,during the covered period1 with respect to a covered loan-- 7i7 no collateral shall be required for the covered loan2 and 7ii7 no personal guarantee shall be required for the covered loan4 7,k7 ,maturity for loans with remaining balance after application of forgiveness ,with respect to a covered loan that has a remaining balance after reduction based on the loan forgiveness amount under section #aaje of the ,,cares ,act-- 7i7 the remaining balance shall continue to be guaranteed by the ,administration under this subsection2 and 7ii7 the covered loan shall have a maximum maturity of #aj years from the date on which the borrower applies for loan forgiveness under that section4 7,l7 ,interest rate requirements ,during the covered period1 a covered loan shall bear an interest rate in accordance with the maximum interest rate in effect on ,february #ae1 #bjbj1 for a loan under this subsection4 7,m7 ,subsidy recoupment fee ,notwithstanding any other provision of law1 a covered loan shall not be subject to a subsidy recoupment fee4 7,n7 ,loan deferment 7i7 ,definition of impacted borrower 7,i7 ,in general ,in this subparagraph1 the term impacted borrower means an eligible recipient that-- 7aa7 is in operation on ,february #ae1 #bjbj2 and 7bb7 has an application for a covered loan that is approved or pending approval on or after the date of enactment of this paragraph4 7,,ii7 ,presumption ,for purposes of this subparagraph1 an impacted borrower is presumed to have been adversely impacted by ,,covid-#ai4 7ii7 ,deferral ,during the covered period1 the ,administrator shall-- 7,i7 consider each eligible recipient that applies for a covered loan to be an impacted borrower2 and 7,,ii7 require lenders under this subsection to provide complete payment deferment relief for impacted borrowers with covered loans for a period of not more than #a year4 7iii7 ,secondary market ,during the covered period1 with respect to a covered loan that is sold on the secondary market1 if an investor declines to approve a deferral requested by a lender under clause 7ii71 the ,administrator shall exercise the authority to purchase the loan so that the impacted borrower may receive a deferral for a period of not more than #a year4 7iv7 ,guidance ,not later than #cj days after the date of enactment of this paragraph1 the ,administrator shall provide guidance to lenders under this paragraph on the deferment process described in this subparagraph4 7,o7 ,secondary market sales ,a covered loan shall not be eligible to be sold in the secondary market until the covered recipient of the covered loan has requested the loan forgiveness authorized under section #aaje of the ,,cares ,act and the ,administrator has finally determined the amount of any forgiveness to which the eligible recipient is entitled and has made payment to the lender4 ,any remaining balance on the loan after the application of that payment may be sold in the secondary market4 7,p7 ,regulatory capital requirements 7i7 ,risk weight ,with respect to the appropriate ,federal banking agencies applying capital requirements under their respective risk-based capital requirements1 a covered loan shall receive a risk weight of zero percent4 7ii7 ,temporary relief from ,,tdr disclosures ,notwithstanding any other provision of law1 an insured depository institution that modifies a covered loan in relation to ,,covid-#ai-related difficulties in a troubled debt restructuring on or after ,march #ac1 #bjbj1 shall not be required to comply with the ,financial ,accounting ,standards ,board ,accounting ,standards ,codification ,subtopic #caj-dj 7,receivables--,troubled ,debt ,restructurings by ,creditors7 for purposes of compliance with the requirements of the ,federal ,deposit ,insurance ,act 7#ab ,u4,s4,c4 #ahaa et seq471 until such time and under such circumstances as the appropriate ,federal banking agency determines appropriate4 7,q7 ,reimbursement for processing 7i7 ,in general ,the ,administrator shall reimburse a lender authorized to make a covered loan at a rate of #e percent of the balance of the financing outstanding at the time of disbursement of the covered loan4 7ii7 ,timing ,a reimbursement described in clause 7i7 shall be made not later than #e days after the disbursement of the covered loan4 7,r7 ,duplication ,nothing in this paragraph shall prohibit a recipient of an economic injury disaster loan made under subsection 7b77#b7 during the period beginning on ,february #ae1 #bjbj1 and ending on ,march #ca1 #bjbj1 from receiving assistance under this paragraph4 4 7b7 ,commitments for #g7;a7 loans ,during the period beginning on ,february #ae1 #bjbj1 and ending on ,june #cj1 #bjbj-- 7#a7 the amount authorized for commitments for general business loans authorized under section #g7;a7 of the ,small ,business ,act 7#ae ,u4,s4,c4 #fcf7;a771 including loans made under paragraph 7#cf7 of such section1 as added by subsection 7a71 shall be #cdi1jjj1jjj1jjj2 and 7#b7 the amount authorized for commitments for such loans under the heading ,business ,loans ,program ,account under the heading ,small ,business ,administration under title ,v of division ,c of the ,consolidated ,appropriations ,act1 #bjbj 7,public ,law #aaf-ic2 #acc ,stat4 #bdge7 shall not apply4 7c7 ,express loans 7#a7 ,in general ,section #g7;a77#ca77;,d7 of the ,small ,business ,act 7#ae ,u4,s4,c4 #fcf7;a77#ca77;,d77 is amended by striking #cej1jjj and inserting #a1jjj1jjj4 7#b7 ,prospective repeal ,effective on ,january #a1 #bjba1 section #g7;a77#ca77;,d7 of the ,small ,business ,act 7#ae ,u4,s4,c4 #fcf7;a77#ca77;,d77 is amended by striking #a1jjj1jjj and inserting #cej1jjj4 7d7 ,interim rule ,on and after the date of enactment of this ,act1 the interim final rule published by the ,administrator entitled ,express ,loan ,programs3 ,affiliation ,standards 7#he ,fed4 ,reg4 #gfbb 7,february #aj1 #bjbj77 shall have no force or effect4 #c4 ,waiver of matching funds requirement under the women's business center program ,during the #c-month period beginning on the date of enactment of this ,act1 the requirement relating to obtaining cash contributions from non-,federal sources under section #bi7;c77#a7 of the ,small ,business ,act 7#ae ,u4,s4,c4 #fef7;c77#a77 is waived for any recipient of assistance under such section #bi4 #d4 ,loan forgiveness 7a7 ,definitions ,in this section-- 7#a7 the term covered loan means a loan guaranteed under paragraph 7#cf7 of section #g7;a7 of the ,small ,business ,act 7#ae ,u4,s4,c4 #fcf7;a771 as added by ,section #b2 7#b7 the term covered mortgage obligation means any indebtedness or debt instrument incurred in the ordinary course of business that-- 7,a7 is a liability of the borrower2 7,b7 is a mortgage on real or personal property2 and 7,c7 was incurred before ,february #ae1 #bjbj2 7#c7 the term covered period means the #h-week period beginning on the date of the origination of a covered loan2 7#d7 the term covered rent obligation means rent obligated under a leasing agreement in force before ,february #ae1 #bjbj2 7#e7 the term covered utility payment means payment for a service for the distribution of electricity1 gas1 water1 transportation1 telephone1 or internet access for which service began before ,february #ae1 #bjbj2 7#f7 the term eligible recipient means the recipient of a covered loan2 7#g7 the term expected forgiveness amount means the amount of principal that a lender reasonably expects a borrower to expend during the covered period on the sum of any-- 7,a7 payroll costs2 7,b7 payments of interest on any covered mortgage obligation 7which shall not include any prepayment of or payment of principal on a covered mortgage obligation72 7,c7 payments on any covered rent obligation2 and 7,d7 covered utility payments2 and 7#h7 the term payroll costs has the meaning given that term in paragraph 7#cf7 of section #g7;a7 of the ,small ,business ,act 7#ae ,u4,s4,c4 #fcf7;a771 as added by ,section #b of this ,act4 7b7 ,forgiveness ,an eligible recipient shall be eligible for forgiveness of indebtedness on a covered loan in an amount equal to the sum of the following costs incurred and payments made during the covered period3 7#a7 ,payroll costs4 7#b7 ,any payment of interest on any covered mortgage obligation 7which shall not include any prepayment of or payment of principal on a covered mortgage obligation74 7#c7 ,any payment on any covered rent obligation4 7#d7 ,any covered utility payment4 7c7 ,treatment of amounts forgiven 7#a7 ,in general ,amounts which have been forgiven under this section shall be considered canceled indebtedness by a lender authorized under section #g7;a7 of the ,small ,business ,act 7#ae ,u4,s4,c4 #fcf7;a774 7#b7 ,purchase of guarantees ,for purposes of the purchase of the guarantee for a covered loan by the ,administrator1 amounts which are forgiven under this section shall be treated in accordance with the procedures that are otherwise applicable to a loan guaranteed under section #g7;a7 of the ,small ,business ,act 7#ae ,u4,s4,c4 #fcf7;a774 7#c7 ,remittance ,not later than #ij days after the date on which the amount of forgiveness under this section is determined1 the ,administrator shall remit to the lender an amount equal to the amount of forgiveness1 plus any interest accrued through the date of payment4 7#d7 ,advance purchase of covered loan 7,a7 ,report ,a lender authorized under section #g7;a7 of the ,small ,business ,act 7#ae ,u4,s4,c4 #fcf7;a77 may report to the ,administrator an expected forgiveness amount on a covered loan or on a pool of covered loans of up to #ajj percent of the principal on the covered loan or pool of covered loans1 respectively4 7,b7 ,purchase ,the ,administrator shall purchase the expected forgiveness amount described in subparagraph 7,a7 as if the amount were the principal amount of a loan guaranteed under section #g7;a7 of the ,small ,business ,act #fcf7;a774 7,c7 ,timing ,not later than #e days after the date on which the ,administrator receives a report under subparagraph 7,a71 the ,administrator shall purchase the expected forgiveness amount under subparagraph 7,b7 with respect to each covered loan to which the report relates4 7d7 ,limits on amount of forgiveness 7#a7 ,amount may not exceed principal ,the amount of loan forgiveness under this section shall not exceed the principal amount of the financing made available under the applicable covered loan4 7#b7 ,reduction based on reduction in number of employees 7,a7 ,in general ,the amount of loan forgiveness under this section shall be reduced1 but not increased1 by multiplying the amount described in subsection 7b7 by the quotient obtained by dividing-- 7i7 the average number of full-time equivalent employees per month employed by the eligible recipient during the covered period2 by 7ii7 7,i7 the average number of full-time equivalent employees per month employed by the eligible recipient during the period beginning on ,february #ae1 #bjai1 and ending on ,june #cj1 #bjai2 7,,ii7 if the eligible recipient was not in operation before ,june #cj1 #bjai1 the average number of full-time equivalent employees per month employed by the eligible recipient during the period beginning on ,january #a1 #bjbj1 and ending on ,february #bi1 #bjbj2 or 7,,iii7 in the case of an eligible recipient that is a seasonal employer1 as determined by the ,administrator1 the average number of full-time equivalent employees per month employed by the eligible recipient during the period beginning on ,february #ae1 #bjai1 and ending on ,june #cj1 #bjai4 7,b7 ,calculation of average number of employees ,for purposes of subparagraph 7,a71 the average number of full-time equivalent employees shall be determined by calculating the average number of full-time equivalent employees for each pay period falling within a month4 7#c7 ,reduction relating to salary and wages 7,a7 ,in general ,the amount of loan forgiveness under this section shall be reduced by the amount of any reduction in total salary or wages of any employee described in subparagraph 7,b7 during the covered period that is in excess of #be percent of the total salary or wages of the employee during the most recent full quarter during which the employee was employed before the covered period4 7,b7 ,employees described ,an employee described in this subparagraph is any employee who did not receive1 during any single pay period during #bjai1 wages or salary at an annualized rate of pay in an amount more than #ajj1jjj4 7#d7 ,exception for tipped workers ,an eligible recipient with tipped employees described in section #c7m77#b77;,a7 of the ,fair ,labor ,standards ,act of #aich 7#bi ,u4,s4,c4 #bjc7m77#b77;,a77 may receive forgiveness for additional wages paid to those employees4 7#e7 ,exemption for re-hires 7,a7 ,in general ,in a circumstance described in subparagraph 7,b71 the amount of loan forgiveness under this section shall be determined without regard to a reduction in the number of full-time equivalent employees of an eligible recipient or a reduction in the salary of #a or more employees of the eligible recipient1 as applicable1 during the period beginning on ,february #ae1 #bjbj1 and ending on ,april #a1 #bjbj4 7,b7 ,circumstances ,a circumstance described in this subparagraph is a circumstance-- 7i7 in which-- 7,i7 during the period beginning on ,february #ae1 #bjbj1 and ending on ,april #a1 #bjbj1 there is a reduction1 as compared to ,february #ae1 #bjbj1 in the number of full-time equivalent employees of an eligible recipient2 and 7,,ii7 not later than ,june #cj1 #bjbj1 the eligible employer has eliminated the reduction in the number of full-time equivalent employees2 7ii7 in which-- 7,i7 during the period beginning on ,february #ae1 #bjbj1 and ending on ,april #a1 #bjbj1 there is a reduction1 as compared to ,february #ae1 #bjbj1 in the salary or wages of #a or more employees of the eligible recipient2 and 7,,ii7 not later than ,june #cj1 #bjbj1 the eligible employer has eliminated the reduction in the salary or wages of such employees2 or 7iii7 in which the events described in clause 7i7 and 7ii7 occur4 7e7 ,application ,an eligible recipient seeking loan forgiveness under this section shall submit to the lender that originated the covered loan an application1 which shall include-- 7#a7 documentation verifying the number of full-time equivalent employees on payroll and pay rates for the periods described in subsection 7d71 including-- 7,a7 payroll tax filings reported to the ,internal ,revenue ,service2 and 7,b7 ,state income1 payroll1 and unemployment insurance filings2 7#b7 documentation1 including cancelled checks1 payment receipts1 transcripts of accounts1 or other documents verifying payments on covered mortgage obligations1 payments on covered lease obligations1 and covered utility payments2 7#c7 a certification from a representative of the eligible recipient authorized to make such certifications that-- 7,a7 the documentation presented is true and correct2 and 7,b7 the amount for which forgiveness is requested was used to retain employees1 make interest payments on a covered mortgage obligation1 make payments on a covered rent obligation1 or make covered utility payments2 and 7#d7 any other documentation the ,administrator determines necessary4 7f7 ,prohibition on forgiveness without documentation ,no eligible recipient shall receive forgiveness under this section without submitting to the lender that originated the covered loan the documentation required under subsection 7e74 7g7 ,decision ,not later than #fj days after the date on which a lender receives an application for loan forgiveness under this section from an eligible recipient1 the lender shall issue a decision on the application4 7h7 ,safe harbor ,if a lender determines that an eligible recipient has accurately verified the payments for payroll costs1 payments on covered mortgage obligations1 payments on covered lease obligations1 or covered utility payments during the covered period-- 7#a7 an enforcement action may not be taken against the lender under section #dg7;e7 of the ,small ,business ,act 7#ae ,u4,s4,c4 #fegt7e77 relating to loan forgiveness for the payments for payroll costs1 payments on covered mortgage obligations1 payments on covered lease obligations1 or covered utility payments1 as the case may be2 and 7#b7 the lender shall not be subject to any penalties by the ,administrator relating to loan forgiveness for the payments for payroll costs1 payments on covered mortgage obligations1 payments on covered lease obligations1 or covered utility payments1 as the case may be4 7i7 ,taxability ,canceled indebtedness under this section shall be excluded from gross income for purposes of the ,internal ,revenue ,code of #aihf4 7j7 ,rule of construction ,the cancellation of indebtedness on a covered loan under this section shall not otherwise modify the terms and conditions of the covered loan4 7k7 ,regulations ,not later than #cj days after the date of enactment of this ,act1 the ,administrator shall issue guidance and regulations implementing this section4 #e4 ,direct appropriations 7a7 ,in general ,there is appropriated1 out of amounts in the ,treasury not otherwise appropriated1 for the fiscal year ending ,september #cj1 #bjbj1 to remain available until ,september #cj1 #bjba1 for additional amounts-- 7#a7 #bii1djj1jjj1jjj under the heading ,small ,business ,administration--,business ,loans ,program ,account for the cost of guaranteed loans as authorized under paragraph 7#cf7 of section #g7;a7 of the ,small ,business ,act 7#ae ,u4,s4,c4 #fcf7;a771 as added by section #b7;a7 of this title2 7#b7 #gjj1jjj1jjj under the heading ,small ,business ,administration--,salaries and ,expenses for salaries and expenses of the ,administration2 and 7#c7 #be1jjj1jjj under the heading ,small ,business ,administration--,office of ,inspector ,general for necessary expenses of the ,office of ,inspector ,general of the ,administration in carrying out the provisions of the ,inspector ,general ,act of #aigh 7#e ,u4,s4,c4 ,app474 #f4 ,contracting 7a7 ,definition ,in this section1 the term covered entity means a small business concern or nonprofit organization-- 7#a7 that is a party to a contract with a ,federal agency2 and 7#b7 for which the contractor performance is adversely impacted as a result of ,,covid-#ai4 7b7 ,promotion of small business contracting 7#a7 ,small business contracting relief 7,a7 ,in general ,notwithstanding any other provision of law or regulation1 and except as provided in subparagraph 7,b71 during the period beginning on the date of enactment of this ,act and ending on ,september #cj1 #bjba1 the head of the ,federal agency with which a covered entity has a contract shall provide the covered entity with the greater of-- 7i7 #cj additional days to carry out the responsibilities of the covered entity under the contract2 or 7ii7 an additional amount of time to carry out the responsibilities of the covered entity under the contract that the head of the ,federal agency determines to be appropriate after taking into consideration the severity of the adverse impact experienced by the covered entity4 7,b7 ,exclusion of mission-critical contracts ,subparagraph 7,a7 shall not apply to any contract that the head of the ,federal agency that is a party to the contract determines is critical to carrying out the mission of the ,federal agency4 7#b7 ,payment continuation ,if the performance of all or any part of the work of a ,federal goods or services contract with a contractor that is a small business concern or a nonprofit organization in force and effect during the period beginning on the date of enactment of this ,act and ending on ,september #cj1 #bjba1 is unavoidably delayed or interrupted by the inability of the employees of the small business concern or nonprofit organization1 as applicable1 to access ,government facilities1 systems1 or other ,government-provided resources due to restrictions related to ,,covid-#ai that have been imposed by any authority or due to orders or instructions issued by the contracting agency in response to ,,covid-#ai-- 7,a7 the ,government shall pay the small business concern or nonprofit organization1 as applicable1 upon the submission of the documentation required by the contract and according to the terms specified in the contract1 the prices stipulated in the contract for goods or services as if the small business concern or nonprofit organization1 as applicable1 had rendered and the ,government accepted the goods or services2 and 7,b7 contractor delivery schedules shall be revised and the small business concern or nonprofit organization1 as applicable1 shall be eligible for equitable adjustments based on the revised schedules4 7#c7 ,prompt payments ,notwithstanding any other provision of law or regulation1 during any period in which the ,president invokes the authorities of the ,defense ,production ,act of #aiej 7#ej ,u4,s4,c4 #deja et seq471 for any payment due by the head of a ,federal agency on a contract for an item of property or service provided-- 7,a7 with respect to a prime contractor 7as defined in section #hgja of title #da1 ,united ,states ,code7 that is a small business concern or nonprofit organization1 the head of the ,federal agency shall1 to the fullest extent permitted by law and to the maximum extent practicable1 establish an accelerated payment date of #ae days after a proper invoice for the amount due is received2 and 7,b7 with respect to a prime contractor 7as defined in section #hgja of title #da1 ,united ,states ,code7 that subcontracts with a small business concern or nonprofit organization1 the head of the ,federal agency shall1 to fullest extent permitted by law and to the maximum extent practicable1 establish an accelerated payment date of #ae days after receipt of a proper invoice for the amount due if the prime contractor agrees to make payments to the subcontractor in accordance with the accelerated payment date1 to the maximum extent practicable1 without any further consideration from or fees charged to the subcontractor4 7#d7 ,bar on multiple forms of contract relief ,a small business concern or nonprofit organization may not receive a modification of terms or assistance under more than #a paragraph of this subsection with respect to any single contract4 7c7 ,resolicitation of contracts with small business concerns ,during fiscal years #bjba and #bjbb1 a ,federal agency shall not cancel a contract in which the prime contractor 7as defined in section #hgja of title #da1 ,united ,states ,code7 is a small business concern that defaulted on the terms of the contract directly or indirectly due to the ,,covid-#ai unless the ,director of ,small and ,disadvantaged ,business ,utilization of the ,federal agency certifies that-- 7#a7 the contract is mission-critical2 7#b7 resolicitation of the contract would allow a faster delivery than the small business concern could provide2 and 7#c7 the resolicitation of the contract is1 to the greatest extent possible1 awarded to another small business concern4 #g4 ,united ,states ,treasury program management authority 7a7 ,authority ,to include additional financial institutions ,the ,department of the ,treasury1 in consultation with the ,administration1 the ,farm ,credit ,administration1 and the other ,federal financial regulatory agencies 7as defined in section #cac7r7 of title #ca1 ,united ,states ,code71 shall establish criteria for insured depository institutions 7as defined in section #c of the ,federal ,deposit ,insurance ,act 7#ab ,u4,s4,c4 #ahac771 institutions of the ,farm ,credit ,system chartered under the ,farm ,credit ,act of #aiga 7#ab ,u4,s4,c4 #bjja et seq471 and other lenders that do not already participate in lending under programs of the ,administration1 to participate in the small business interruption loans program to provide loans under this section until the date on which the national emergency declared by the ,president under the ,national ,emergencies ,act 7#ej ,u4,s4,c4 #afja et seq47 with respect to the ,coronavirus ,disease #bjai 7,,covid-#ai7 expires4 7b7 ,safety and soundness ,an insured depository institution 7as defined in section #c of the ,federal ,deposit ,insurance ,act 7#ab ,u4,s4,c4 #ahac771 institution of the ,farm ,credit ,system chartered under the ,farm ,credit ,act of #aiga 7#ab ,u4,s4,c4 #bjja et seq471 or other lender may only participate in the program established under this section if participation does not affect the safety and soundness of the institution or lender4 7c7 ,regulations for lenders and loans 7#a7 ,in general ,the ,secretary of the ,treasury1 in consultation with the ,administrator1 shall issue regulations and guidance in order to direct additional lenders under this section and establish terms and conditions for small business interruption loans under this section1 including terms concerning compensation1 underwriting standards1 interest rates1 and maturity4 7#b7 ,requirements ,the terms and conditions established under paragraph 7#a7 shall provide for the following3 7,a7 ,a rate of interest that does not exceed the maximum permissible rate of interest available on a loan of comparable maturity under paragraph 7#cf7 of section #g7;a7 of the ,small ,business ,act 7#ae ,u4,s4,c4 #fcf7;a771 as added by section #b of this ,act4 7,b7 ,terms and conditions that1 to the maximum extent practicable1 are the same as the terms and conditions required under the following provisions of paragraph 7#cf7 of section #g7;a7 of the ,small ,business ,act 7#ae ,u4,s4,c4 #fcf7;a771 as added by section #b of this ,act3 7i7 ,subparagraph 7,d71 pertaining to borrower eligibility4 7ii7 ,subparagraph 7,e71 pertaining to the maximum loan amount4 7iii7 ,subparagraph 7,f77i71 pertaining to allowable uses of program loans4 7iv7 ,subparagraph 7,h71 pertaining to fee waivers4 7v7 ,subparagraph 7,n71 pertaining to loan deferment4 7,c7 ,a guarantee percentage that1 to the maximum extent practicable1 is the same as the guarantee percentage required under subparagraph 7,f7 of section #g7;a77#b7 of the ,small ,business ,act 7#ae ,u4,s4,c4 #fcf7;a77#b771 as added by section #b of this ,act4 7d7 ,additional regulations generally ,the ,secretary of the ,treasury may issue regulations and guidance as may be necessary to carry out the purposes of this section4 7e7 ,certification ,as a condition of receiving a loan under this section1 a borrower shall certify under terms acceptable to the ,secretary of the ,treasury that the borrower-- 7#a7 does not have an application pending for a loan under section #g7;a7 of the ,small ,business ,act 7#ae ,u4,s4,c4 #fcf7;a772 and 7#b7 has not received such a loan during the period beginning on ,february #ae1 #bjbj1 and ending on ,december #ca1 #bjbj4 7f7 ,program administration ,under the infrastructure of the ,department of the ,treasury and with guidance from the ,secretary of the ,treasury1 the ,administrator shall administer the program established under this section1 including the making and purchasing of guarantees on loans under the program1 until the date on which the national emergency declared by the ,president under the ,national ,emergencies ,act 7#ej ,u4,s4,c4 #afja et seq47 with respect to the ,coronavirus ,disease #bjai 7,,covid-#ai7 expires4 7g7 ,criminal penalties ,a loan under this section shall be deemed to be a loan under the ,small ,business ,act 7#ae ,u4,s4,c4 #fca et seq47 for purposes of section #af of such ,act 7#ae ,u4,s4,c4 #fde74 #h4 ,emergency ,,eidl grants 7a7 ,definitions ,in this section-- 7#a7 the term covered period means the period beginning on ,january #ca1 #bjbj1 and ending on ,december #ca1 #bjbj2 and 7#b7 the term eligible entity means-- 7,a7 a startup with not more than #ejj employees2 7,b7 any individual who operates under a sole proprietorship or as an independent contractor2 7,c7 a cooperative with not more than #ejj employees2 or 7,d7 an ,,esop 7as defined in section #c of the ,small ,business ,act 7#ae ,u4,s4,c4 #fcb77 with not more than #ejj employees4 7b7 ,eligible entities ,during the covered period1 in addition to small business concerns1 private nonprofit organizations1 and small agricultural cooperatives1 an eligible entity shall be eligible for a loan made under section #g7;b77#b7 of the ,small ,business ,act 7#ae ,u4,s4,c4 #fcf7;b77#b774 7c7 ,terms2 credit elsewhere ,with respect to a loan made under section #g7;b77#b7 of the ,small ,business ,act 7#ae ,u4,s4,c4 #fcf7;b77#b77 in response to ,,covid-#ai during the covered period1 the ,administrator shall waive-- 7#a7 any rules related the personal guarantee on advances and loans of not more than #bjj1jjj during the covered period for all applicants2 7#b7 the requirement that an applicant needs to be in business for the #a-year period before the disaster2 and 7#c7 the requirement in the flush matter following subparagraph 7,e7 of section #g7;b77#b7 of the ,small ,business ,act 7#ae ,u4,s4,c4 #fcf7;b77#b771 as so redesignated by subsection 7f7 of this section1 that an applicant be unable to obtain credit elsewhere4 7d7 ,approval and ability ,to repay for small dollar loans ,with respect to a loan made under section #g7;b77#b7 of the ,small ,business ,act 7#ae ,u4,s4,c4 #fcf7;b77#b77 in response to ,,covid-#ai during the covered period1 a lender may-- 7#a7 approve an applicant based solely on the credit score of the applicant and shall not require an applicant to submit a tax return or a tax return transcript for such approval2 or 7#b7 use alternative appropriate methods to determine an applicant's ability to repay4 7e7 ,emergency grant 7#a7 ,in general ,during the covered period1 an eligible entity that applies for a loan under section #g7;b77#b7 of the ,small ,business ,act 7#ae ,u4,s4,c4 #fcf7;b77#b77 in response to ,,covid-#ai may request that the ,administrator provide an advance in the amount requested by such applicant 7not to exceed #aj1jjj7 to such applicant within #c days after the ,administrator receives an application from such applicant4 7#b7 ,verification ,before disbursing amounts under this subsection1 the ,administrator shall verify that the applicant is an eligible entity4 7#c7 ,use of funds ,an advance provided under this subsection may be used to address any allowable purpose for a loan made under section #g7;b77#b7 of the ,small ,business ,act 7#ae ,u4,s4,c4 #fcf7;b77#b771 including-- 7,a7 providing paid sick leave to employees unable to work due to the direct effect of the ,,covid-#ai2 7,b7 maintaining payroll to retain employees during business disruptions or substantial slowdowns2 7,c7 meeting increased costs to obtain materials unavailable from the applicant's original source due to interrupted supply chains2 7,d7 making rent or mortgage payments2 and 7,e7 repaying obligations that cannot be met due to revenue losses4 7#d7 ,repayment ,an applicant shall not be required to repay any amounts of an advance provided under this subsection1 even if subsequently denied a loan under section #g7;b77#b7 of the ,small ,business ,act 7#ae ,u4,s4,c4 #fcf7;b77#b774 7#e7 ,unemployment grant ,if an applicant that receives an advance under this subsection transfers into the loan program under section #g7;a7 of the ,small ,business ,act 7#ae ,u4,s4,c4 #fcf7;a771 the advance amount shall be considered when determining loan forgiveness for a loan for payroll costs made under such section #g7;a74 7#f7 ,authorization of appropriations ,there is authorized to be appropriated to the ,administration #aj1jjj1jjj1jjj to carry out this subsection4 7#g7 ,termination ,the authority to carry out grants under this subsection shall terminate on ,december #cj1 #bjbj4 7f7 ,emergencies involving ,federal primary responsibility qualifying for ,,sba assistance ,section #g7;b77#b7 of the ,small ,business ,act 7#ae ,u4,s4,c4 #fcf7;b77#b77 is amended-- 7#a7 in subparagraph 7,a71 by striking or at the end2 7#b7 in subparagraph 7,b71 by striking or at the end2 7#c7 in subparagraph 7,c71 by striking or at the end2 7#d7 by redesignating subparagraph 7,d7 as subparagraph 7,e72 7#e7 by inserting after subparagraph 7,c7 the following3 7,d7 an emergency involving ,federal primary responsibility determined to exist by the ,president under section #eja7;b7 of the ,robert ,t4 ,stafford ,disaster ,relief and ,emergency ,assistance ,act 7#db ,u4,s4,c4 #eaia7;b772 or 2 and 7#f7 in subparagraph 7,e71 as so redesignated-- 7,a7 by striking or 7,c7 and inserting 7,c71 or 7,d72 7,b7 by striking disaster declaration each place it appears and inserting disaster or emergency declaration2 7,c7 by striking disaster has occurred and inserting disaster or emergency has occurred2 7,d7 by striking such disaster and inserting such disaster or emergency2 and 7,e7 by striking disaster stricken and inserting disaster- or emergency-stricken2 and 7#g7 in the flush matter following subparagraph 7,e71 as so redesignated1 by striking the period at the end and inserting the following3 3 ,provided further1 ,that for purposes of subparagraph 7,d71 the ,administrator shall deem that such an emergency affects each ,state or subdivision thereof 7including counties71 and that each ,state or subdivision has sufficient economic damage to small business concerns to qualify for assistance under this paragraph and the ,administrator shall accept applications for such assistance immediately44 #i4 ,subsidy for certain loan payments 7a7 ,definition of covered loan ,in this section1 the term covered loan means a loan that is-- 7#a7 guaranteed by the ,administration under-- 7,a7 section #g7;a7 of the ,small ,business ,act 7#ae ,u4,s4,c4 #fcf7;a771 including a loan made under the ,community ,advantage ,pilot ,program of the ,administration2 or 7,b7 title ,v of the ,small ,business ,investment ,act of #aieh 7#ae ,u4,s4,c4 #fie et seq472 or 7#b7 made by an intermediary to a small business concern using loans or grants received under section #g7m7 of the ,small ,business ,act 7#ae ,u4,s4,c4 #fcf7m774 7b7 ,sense of ,congress ,it is the sense of ,congress that-- 7#a7 all borrowers are adversely affected by ,,covid-#ai2 7#b7 relief payments by the ,administration are appropriate for all borrowers2 and 7#c7 in addition to the relief provided under this ,act1 the ,administration should encourage lenders to provide payment deferments1 when appropriate1 and to extend the maturity of covered loans1 so as to avoid balloon payments or any requirement for increases in debt payments resulting from deferments provided by lenders during the period of the national emergency declared by the ,president under the ,national ,emergencies ,act 7#ej ,u4,s4,c4 #afja et seq47 with respect to the ,coronavirus ,disease #bjai 7,,covid-#ai74 7c7 ,principal and interest payments 7#a7 ,in general ,the ,administrator shall pay the principal1 interest1 and any associated fees that are owed on a covered loan in a regular servicing status-- 7,a7 with respect to a covered loan made before the date of enactment of this ,act and not on deferment1 for the #f-month period beginning with the next payment due on the covered loan2 7,b7 with respect to a covered loan made before the date of enactment of this ,act and on deferment1 for the #f-month period beginning with the next payment due on the covered loan after the deferment period2 and 7,c7 with respect to a covered loan made during the period beginning on the date of enactment of this ,act and ending on the date that is #f months after such date of enactment1 for the #f-month period beginning with the first payment due on the covered loan4 7#b7 ,timing of payment ,the ,administrator shall begin making payments under paragraph 7#a7 on a covered loan not later than #cj days after the date on which the first such payment is due4 7#c7 ,application of payment ,any payment made by the ,administrator under paragraph 7#a7 shall be applied to the covered loan such that the borrower is relieved of the obligation to pay that amount4 7d7 ,other requirements ,the ,administrator shall-- 7#a7 communicate and coordinate with the ,federal ,deposit ,insurance ,corporation1 the ,office of the ,comptroller of the ,currency1 and ,state bank regulators to encourage those entities to not require lenders to increase their reserves on account of receiving payments made by the ,administrator under subsection 7c72 7#b7 waive statutory limits on maximum loan maturities for any covered loan durations where the lender provides a deferral and extends the maturity of covered loans during the #a-year period following the date of enactment of this ,act2 and 7#c7 when necessary to provide more time because of the potential of higher volumes1 travel restrictions1 and the inability to access some properties during the ,,covid-#ai pandemic1 extend lender site visit requirements to-- 7,a7 not more than #fj days 7which may be extended at the discretion of the ,administration7 after the occurrence of an adverse event1 other than a payment default1 causing a loan to be classified as in liquidation2 and 7,b7 not more than #ij days after a payment default4 7e7 ,rule of construction ,nothing in this section may be construed to limit the authority of the ,administrator to make payments pursuant to subsection 7c7 with respect to a covered loan solely because the covered loan has been sold in the secondary market4 7f7 ,authorization of appropriations ,there is authorized to be appropriated to the ,administrator #af1hjj1jjj1jjj to carry out this section4 #aj4 ,emergency rulemaking authority ,not later than #ae days after the date of enactment of this ,act1 the ,administrator shall issue regulations to carry out this ,act and the amendments made by this ,act without regard to the notice requirements under section #eec7;b7 of title #e1 ,united ,states ,code4 ,v ,regulatory relief #a4 ,repealing burdensome regulations 7a7 ,within #g days of enactment of this ,act1 each agency 7as defined in #e ,u4,s4,c4 #eea7 shall identify major regulations 7as defined in #e ,u4,s4,c4 #hjd7b77 that1 if amended1 suspended1 or repealed1 would provide immediate financial or economic relief4 7b7 ,within #ae days of enactment1 each agency shall submit to the ,president a plan to immediately suspend enforcement of the regulations identified in accordance with subsection 7a74 7c7 ,regulations suspended in accordance with this section may not be reinstated unless approved by a joint resolution of ,congress4 7d7 ,the requirements under chapter #e of title #e1 ,united ,states ,code1 shall not apply to the suspension of regulations identified under this section4 ,,vi ,temporary relief from home and auto loans #a4 ,foreclosure moratorium and consumer right to request forbearance 7a7 ,definitions ,in this section3 7#a7 ,,covid-#ai emergency ,the term ,,covid-#ai emergency means the national emergency concerning the novel coronavirus disease 7,,covid-#ai7 outbreak declared by the ,president on ,march #ac1 #bjbj1 under the ,national ,emergencies ,act 7#ej ,u4,s4,c4 #afja et seq474 7#b7 ,federally backed mortgage loan ,the term ,federally backed mortgage loan includes any loan which is secured by a first or subordinate lien on residential real property 7including individual units of condominiums and cooperatives7 designed principally for the occupancy of from #a to #d families that is-- 7,a7 insured by the ,federal ,housing ,administration under title ,,ii of the ,national ,housing ,act 7#ab ,u4,s4,c4 #agjg et seq472 7,b7 insured under section #bee of the ,national ,housing ,act 7#ab ,u4,s4,c4 #agaez-#bj72 7,c7 guaranteed under section #ahd or #ahd;,a of the ,housing and ,community ,development ,act of #aiib 7#ab ,u4,s4,c4 #agaez-#ac;a1 #agaez-#ac;b72 7,d7 guaranteed or insured by the ,department of ,veterans ,affairs2 7,e7 guaranteed or insured by the ,department of ,agriculture2 7,f7 made by the ,department of ,agriculture2 or 7,g7 purchased or securitized by the ,federal ,home ,loan ,mortgage ,corporation or the ,federal ,national ,mortgage ,association4 7#c7 ,covered period ,the term covered period means the period beginning on the date of enactment of this ,act and ending on the sooner of-- 7,a7 the termination date of the national emergency concerning the novel coronavirus disease 7,,covid-#ai7 outbreak declared by the ,president on ,march #ac1 #bjbj1 under the ,national ,emergencies ,act 7#ej ,u4,s4,c4 #afja et seq472 or 7,b7 ,december #ca1 #bjbj4 7#d7 ,financial hardship ,the term financial hardship means an inability to meet basic living expenses for goods and services necessary for the borrower and his or her spouse and dependents4 7b7 ,forbearance 7#a7 ,in general ,during the covered period1 a borrower with a ,federally backed mortgage loan experiencing a financial hardship due1 directly or indirectly1 to the ,,covid-#ai emergency may request forbearance on the ,federally backed mortgage loan1 regardless of delinquency status1 by-- 7,a7 submitting a request to the borrower's servicer2 and 7,b7 affirming that the borrower is experiencing a financial hardship during the ,,covid-#ai emergency4 7#b7 ,duration of forbearance ,upon a request by a borrower for forbearance under paragraph 7#a71 such forbearance shall be granted for up to #fj days1 and shall be extended for up to #d periods of #cj days each at the request of the borrower1 provided that1 the borrower's request for an extension is made during the covered period1 and1 at the borrower's request1 either the initial or extended period of forbearance may be shortened4 7#c7 ,accrual of interest or fees ,during a period of forbearance described in this subsection1 no fees1 penalties1 or interest beyond the amounts scheduled or calculated as if the borrower made all contractual payments on time and in full under the terms of the mortgage contract1 shall accrue on the borrower's account4 7c7 ,requirements for servicers 7#a7 ,in general ,upon receiving a request for forbearance from a borrower under subsection 7b71 the servicer shall-- 7,a7 with no additional documentation required other than the borrower's attestation to a financial hardship caused by the ,,covid-#ai emergency and with no fees1 penalties1 or interest 7beyond the amounts scheduled or calculated as if the borrower made all contractual payments on time and in full under the terms of the mortgage contract7 charged to the borrower in connection with the forbearance1 provide the forbearance for up to #fj days1 which may be extended for up to #d periods of #cj days each at the request of the borrower1 provided that1 the borrower's request for an extension is made during the covered period1 and1 at the borrower's request1 either the initial or extended period of forbearance may be shortened2 7,b7 while such forbearance is in effect1 pay or advance funds to make disbursements in a timely manner from any escrow account established on the mortgage loan1 and maintain regular communication with such borrower2 and 7,c7 before the end of such forbearance1 evaluate the borrower's ability to return to making regular mortgage payments1 and based on that evaluation2 7,d7 if the borrower is able to return to making regular mortgage payments at the end of the forbearance period1 at the borrower's request and in accordance with the borrower's choice-- 7i7 reinstate the loan with no penalties1 fees1 or interest accrued beyond the amounts scheduled or calculated as if the borrower made all contractual payments on time and in full under the terms of the mortgage contract and with no modification fees charged to the borrower2 7ii7 provide a written repayment plan with no penalties1 fees1 or interest accrued beyond the amounts scheduled or calculated as if the borrower made all contractual payments on time and in full under the terms of the mortgage contract and with no modification fees charged to the borrower2 or 7iii7 7,i7 at the borrower's request1 modify the borrower's loan to extend the term for a period that is at least the same period as the length of the forbearance1 with all payments that were not made during the forbearance distributed across the payments added by the extension at the same intervals as the borrower's existing payment schedule and evenly distributed across those intervals1 with no penalties1 fees1 or interest accrued beyond the amounts scheduled or calculated as if the borrower made all contractual payments on time and in full under the terms of the mortgage contract and with no modification fees charged to the borrower2 and 7,,ii7 notify the borrower in writing of the extension1 including provision of a new payment schedule and date of maturity1 and that the borrower shall have the election of prepaying the forborne payments at any time1 in a lump sum or otherwise2 7iv7 7,i7 if the borrower elects to modify the loan to capitalize a resulting escrow shortage or deficiency1 the servicer may modify the borrower's loan by re-amortizing the principal balance and extending the term of the loan sufficient to maintain the regular mortgage payments1 with no penalties1 fees1 or interest accrued beyond the amounts scheduled or calculated as if the borrower made all contractual payments on time and in full under the terms of the mortgage contract and with no modification fees charged to the borrower2 and 7,,ii7 notify the borrower in writing of the extension1 including provision of a new payment schedule and date of maturity1 and that the borrower shall have the election of prepaying the suspended payments at any time1 in a lump sum or otherwise2 or 7v7 if the borrower is financially unable to return to making regular mortgage payments at the end of the forbearance period and if the borrower elects1 or if the borrower is able to return to making regular mortgage payments but so elects-- 7,i7 evaluate the borrower for all loan modification options without regard to whether the borrower has previously requested1 been offered1 or provided a loan modification or other loss mitigation option1 including-- 7aa7 further extending the borrower's repayment period2 or 7bb7 other modification options available to the servicer under the terms of their loan and existing laws and policies2 and 7,,ii7 if the borrower qualifies for such a modification1 modify the borrower's loan to provide a loan with such terms as to provide an affordable payment1 with no penalties1 additional interest beyond the amounts scheduled to be calculated as if the borrower made all contractual payments on time and in full under the terms of the mortgage contract in effect at the time the borrower entered into the forbearance1 and with no modification fees charged to the borrower4 7#b7 ,notification 7,a7 ,in general ,each servicer of a ,federally backed mortgage loan shall notify the borrower of their right to request forbearance under this section throughout the period of the ,,covid-#ai emergency-- 7i7 on1 or accompanying1 each periodic statement provided to the borrower2 and 7ii7 in any oral or written communication by the servicer with or to the borrower4 7,b7 ,manner of notification 7i7 ,written notification ,any written notification required under subparagraph 7,a7-- 7,i7 shall be provided-- 7aa7 in ,english and ,spanish at a minimum2 and 7bb7 at least as clearly and conspicuously as the most clear and conspicuous disclosure on the document2 7,,ii7 shall include the notification of the availability of language assistance and housing counseling2 and 7,,iii7 may be provided by first-class mail or electronically1 if the borrower has otherwise consented to electronic communication with the servicer and has not revoked such consent4 7ii7 ,oral notification ,any oral notification required under subparagraph 7,a7 shall be provided in the language the servicer otherwise uses to communicate with the borrower4 7iii7 ,written translations ,in providing written notifications in languages other than ,english under clause 7i71 a servicer may rely on written translations developed by the ,federal ,housing ,finance ,agency or the ,bureau of ,consumer ,financial ,protection4 7#c7 ,foreclosure moratorium ,except with respect to a vacant or abandoned property1 a servicer of a ,federally backed mortgage loan may not initiate any judicial or non-judicial foreclosure process1 move for a foreclosure judgment or order of sale1 or execute a foreclosure-related eviction or foreclosure sale for not less than the #fj-;day period beginning on ,march #ah1 #bjbj4 7d7 ,enforcement ,the provisions of this section shall be enforceable using the remedies available-- 7#a7 to the ,federal agency insurer1 guarantor1 originator1 or purchaser of the ,federally backed mortgage loan2 and 7#b7 under the ,real ,estate ,settlement ,procedures ,act of #aigd 7#ab ,u4,s4,c4 #bfja et seq474 #b4 ,forbearance of residential mortgage loan payments for multifamily properties with federally backed loans 7a7 ,in general ,during the covered period1 a multifamily borrower with a ,federally backed multifamily mortgage loan experiencing a financial hardship due1 directly or indirectly1 to the ,,covid-#ai emergency may request a forbearance under the terms set forth in this section4 7b7 ,request for relief ,a multifamily borrower with a ,federally backed multifamily mortgage loan that was current on its payments as of ,february #a1 #bjbj1 may submit an oral or written request for forbearance under subsection 7a7 to the borrower's servicer affirming that the multifamily borrower is experiencing a financial hardship during the ,,covid-#ai emergency4 7c7 ,forbearance period 7#a7 ,in general ,upon receipt of an oral or written request for forbearance from a multifamily borrower1 a servicer shall-- 7,a7 document the financial hardship2 7,b7 provide the forbearance for up to #cj days2 and 7,c7 extend the forbearance for up to #b additional #cj-;day periods upon the request of the borrower provided that1 the borrower's request for an extension is made during the covered period1 and1 at least #ae days prior to the end of the forbearance period described under subparagraph 7,b74 7#b7 ,right to discontinue ,a multifamily borrower shall have the option to discontinue the forbearance at any time4 7d7 ,renter protections during forbearance period ,a multifamily borrower that receives a forbearance under this section may not1 for the duration of the forbearance-- 7#a7 evict or initiate the eviction of a tenant from a dwelling unit located in or on the applicable property solely for nonpayment of rent or other fees or charges2 or 7#b7 charge any late fees1 penalties1 or other charges to a tenant described in paragraph 7#a7 for late payment of rent4 7e7 ,notice ,a multifamily borrower that receives a forbearance under this section-- 7#a7 may not require a tenant to vacate a dwelling unit located in or on the applicable property before the date that is #cj days after the date on which the borrower provides the tenant with a notice to vacate2 and 7#b7 may not issue a notice to vacate under paragraph 7#a7 until after the expiration of the forbearance4 7f7 ,definitions ,in this section3 7#a7 ,applicable property ,the term applicable property1 with respect to a ,federally backed multifamily mortgage loan1 means the residential multifamily property against which the mortgage loan is secured by a lien4 7#b7 ,federally backed multifamily mortgage loan ,the term ,federally backed multifamily mortgage loan includes any loan 7other than temporary financing such as a construction loan7 that-- 7,a7 is secured by a first or subordinate lien on residential multifamily real property designed principally for the occupancy of #e or more families1 including any such secured loan1 the proceeds of which are used to prepay or pay off an existing loan secured by the same property2 and 7,b7 is made in whole or in part1 or insured1 guaranteed1 supplemented1 or assisted in any way1 by any officer or agency of the ,federal ,government or under or in connection with a housing or urban development program administered by the ,secretary of ,housing and ,urban ,development or a housing or related program administered by any other such officer or agency1 or is purchased or securitized by the ,federal ,home ,loan ,mortgage ,corporation or the ,federal ,national ,mortgage ,association4 7#c7 ,multifamily borrower ,the term multifamily borrower means a borrower of a residential mortgage loan that is secured by a lien against a property comprising #e or more dwelling units4 7#d7 ,,covid-#ai emergency ,the term ,,covid-#ai emergency means the national emergency concerning the novel coronavirus disease 7,,covid-#ai7 outbreak declared by the ,president on ,march #ac1 #bjbj1 under the ,national ,emergencies ,act 7#ej ,u4,s4,c4 #afja et seq474 7#e7 ,covered period ,the term covered period means the period beginning on the date of enactment of this ,act and ending on the sooner of-- 7,a7 the termination date of the national emergency concerning the novel coronavirus disease 7,,covid-#ai7 outbreak declared by the ,president on ,march #ac1 #bjbj1 under the ,national ,emergencies ,act 7#ej ,u4,s4,c4 #afja et seq472 or 7,b7 ,december #ca1 #bjbj4 ,,vii ,current expected credit losses impact study and operating delay #a4 ,definitions ,in this ,act-- 7#a7 the term appropriate committees of ,congress means-- 7,a7 the ,committee on ,banking1 ,housing1 and ,urban ,affairs of the ,senate2 and 7,b7 the ,committee on ,financial ,services of the ,house of ,representatives2 7#b7 the term ,,cecl means the accounting standard in ,accounting ,standards ,update #bjaf-ac1 ,financial ,instruments--,credit ,losses 7,topic #cbf71 issued by the ,financial ,accounting ,standards ,board in ,june #bjaf1 as amended by ,accounting ,standards ,update #bjah-ai1 ,codification ,improvements to ,topic #cbf1 ,financial ,instruments--,credit ,losses1 issued by the ,financial ,accounting ,standards ,board in ,november #bjah2 7#c7 the term ,commission means the ,securities and ,exchange ,commission2 7#d7 the term ,federal financial regulators means-- 7,a7 the ,secretary of the ,treasury2 7,b7 the ,board of ,governors of the ,federal ,reserve ,system2 7,c7 the ,bureau of ,consumer ,financial ,protection2 7,d7 the ,comptroller of the ,currency2 7,e7 the ,commodity ,futures ,trading ,commission2 7,f7 the ,federal ,deposit ,insurance ,corporation2 7,g7 the ,director of the ,federal ,housing ,finance ,agency2 and 7,h7 the ,national ,credit ,union ,administration2 and 7#e7 the term small business concern has the meaning given the term in section #c7;a7 of the ,small ,business ,act 7#ae ,u4,s4,c4 #fcb7;a774 #b4 ,study and report 7a7 ,in general ,the ,commission and the ,federal financial regulators1 in consultation with the ,financial ,accounting ,standards ,board1 shall conduct a quantitative study of-- 7#a7 the potential impact that the implementation of ,,cecl may have on the availability of credit1 with a particular focus on the impact on that availability-- 7,a7 for consumers and small business concerns2 and 7,b7 with respect to the credit products on which consumers and small business concerns rely during periods of economic expansion and during recessions2 7#b7 whether implementing ,,cecl could-- 7,a7 accelerate the depletion of regulatory capital that is available for lending purposes during a recession2 7,b7 have a greater impact on regulatory capital1 or extend the period in which regulatory capital is reduced1 during a recession2 or 7,c7 pose any other systemic risks to the economy of the ,united ,states2 7#c7 the potentially disproportionate impact that the implementation of ,,cecl may have on financial institutions1 taking into account-- 7,a7 the various sizes and levels of complexity of those financial institutions2 and 7,b7 the different amounts of resources that are available to those financial institutions2 7#d7 the potential impact that the implementation of ,,cecl may have on the decisions made by investors2 and 7#e7 the potential competitive impact that the implementation of ,,cecl may have on institutions in the ,united ,states as a result of differing international accounting standards used to measure credit loss4 7b7 ,report ,not later than #a year after the date of enactment of this ,act1 the ,commission and the ,federal financial regulators shall submit to the ,financial ,accounting ,standards ,board and the appropriate committees of ,congress a report-- 7#a7 regarding the results of the study conducted under subsection 7a72 and 7#b7 that shall include-- 7,a7 the identification of any negative impacts resulting from the implementation of ,,cecl2 and 7,b7 recommendations for changes to ,,cecl to eliminate or mitigate the negative impacts described in subparagraph 7,a74 #c4 ,cost-benefit study of ,,cecl impact on non-financial institutions1 insurers1 and ,government-sponsored enterprises 7a7 ,study ,the ,commission and the ,federal financial regulators1 in consultation with the ,financial ,accounting ,standards ,board1 shall carry out a study on the potential costs and benefits of the impact of ,,cecl on non-financial institutions1 the insurance industry 7including reinsurance71 and ,government-sponsored enterprises4 7b7 ,report ,not later than #a year after the date of enactment of this ,act1 the ,commission and the ,federal financial regulators shall submit to the ,financial ,accounting ,standards ,board and the appropriate committees of ,congress a report containing all findings and determinations made in carrying out the study required under subsection 7a74 #d4 ,delay in implementation of ,,cecl ,beginning on the date of enactment of this ,act neither the ,commission nor any of the ,federal financial regulators may require a person to comply with ,,cecl4 ,,viii ,personalized ,care ,act #a4 ,health savings account eligibility 7a7 ,in general ,paragraph 7#a7 of section #bbc7;c7 of the ,internal ,revenue ,code of #aihf is amended to read as follows3 7#a7 ,eligible individual ,the term eligible individual means1 with respect to any month1 any individual if such individual is-- 7,a7 covered under-- 7i7 a group or individual health plan1 7ii7 health insurance coverage1 including a short term limited duration plan or medical indemnity plan1 or 7iii7 a government plan1 including coverage under the ,medicare program under part ,a or part ,b of title ,,xviii of the ,social ,security ,act1 the ,medicaid program under title ,,xix of such ,act1 the ,,chip program under title ,,xxi of such ,act or a qualified ,,chip look-alike program 7as defined in section #bajg7;g7 of such ,act71 medical coverage under chapter #ee of title #aj1 ,united ,states ,code 7including coverage under the ,,tricare program71 a health care program under chapter #ag or #ah of title #ch1 ,united ,states ,code1 as determined by the ,secretary of ,veterans ,affairs in coordination with the ,secretary of ,health and ,human ,services and the ,secretary1 a medical care program of the ,indian ,health ,service or a tribal organization1 or coverage under chapter #hi of title #e1 ,united ,states ,code1 or 7,b7 a participant in a health care sharing ministry 7as defined in section #ejjj;,a7d77#b77;,b77ii771 as of the #ast day of such month4 4 7b7 ,conforming amendments 7#a7 ,subsection 7c7 of section #bbc of such ,code is amended by striking paragraphs 7#b7 and 7#c7 and by redesignating paragraphs 7#d7 and 7#e7 as paragraphs 7#b7 and 7#c71 respectively4 7#b7 ,paragraphs 7#b77;,a7 and 7#b77;,b7 of section #bbc7;b7 of such ,code are each amended by striking a high deductible health plan and inserting a health plan1 insurance1 or ministry described in subsection 7c77#a74 7#c7 ,paragraph 7#h77;,a77ii7 of section #bbc7;b7 of such ,code is amended by striking high deductible health plan and inserting health plan1 insurance1 or ministry described in subsection 7c77#a74 7#d7 ,section #bbc7;g77#a7 of such ,code is amended-- 7,a7 by striking subsections 7b77#b7 and 7c77#b77;,a7 both places it appears and inserting subsection 7b77#b72 and 7,b7 by striking for calendar year #bjaf in subparagraph 7,b7 and all that follows through calendar year #bjjc4 and inserting calendar year #aiig for calendar year #bjaf in subparagraph 7,a77ii7 thereof44 7#e7 ,the heading of subparagraph 7,b7 of section #bbc7;b77#h7 of such ,code is amended by striking high deductible health plan4 7#f7 ,section #bf7;b77#b77,s7 of such ,code is amended by striking high deductible health plan4 7#g7 ,the heading of paragraph 7#c7 of section #ajf7;e7 of such ,code is amended by striking high deductible health plan4 7#h7 ,clause 7ii7 of section #ajf7;e77#e77;,b7 of such ,code is amended by striking a high deductible health plan and inserting a health plan4 7#i7 ,paragraph 7#i7 of section #djh7;d7 of such ,code is amended-- 7,a7 by striking the high deductible health plan covering in subparagraph 7,c77i77,i7 and inserting health plan1 insurance1 or ministry of2 7,b7 by striking a high deductible health plan the first place it appears in subparagraph 7,c77ii77,,ii7 and inserting a health plan1 insurance1 or ministry described in section #bbc7;c77#a72 7,c7 by striking a high deductible health plan the second place it appears in subparagraph 7,c77ii77,,ii7 and inserting any such plan1 insurance1 or ministry2 and 7,d7 by striking high deductible health plan in the heading of subparagraph 7,d74 7c7 ,effective date ,the amendments made by this section shall apply to taxable years beginning after ,december #ca1 #bjai4 #b4 ,increase in ,,hsa contribution limits 7a7 ,in general ,paragraph 7#b7 of section #bbc7;b7 of the ,internal ,revenue ,code of #aihf is amended-- 7#a7 by striking #b1bej in subparagraph 7,a7 and inserting #aj1hjj2 and 7#b7 by striking #d1ejj in subparagraph 7,b7 and inserting #bi1ejj4 7b7 ,cost-of-,living adjustment ,paragraph 7#a7 of section #bbc7;g7 of the ,internal ,revenue ,code of #aihf1 as amended by section #b1 is amended-- 7#a7 by striking ,each and inserting ,in the case of a taxable year beginning after #bjbj1 each2 and 7#b7 by striking calendar year #aiig and inserting calendar year #bjai4 7c7 ,effective date ,the amendments made by this section shall apply to taxable years beginning after ,december #ca1 #bjai4 #c4 ,payment of health plan and health insurance premiums from ,,hsa 7a7 ,in general ,paragraph 7#b7 of section #bbc7;d7 of the ,internal ,revenue ,code of #aihf is amended-- 7#a7 by striking subparagraph 7,b72 7#b7 by redesignating subparagraph 7,c7 as subparagraph 7,b72 7#c7 by striking ,subparagraph 7,b7 shall not apply to any expense for coverage under in subparagraph 7,b71 as so redesignated1 and inserting ,subparagraph 7,a7 shall not apply to any payment for insurance other than2 and 7#d7 in subparagraph 7,b71 as so redesignated-- 7,a7 by striking or at the end of clause 7iii72 7,b7 by striking the period at the end of clause 7iv7 and inserting 1 or2 and 7,c7 by adding at the end the following new clause3 7v7 a health plan or health insurance coverage described in subsection 7c77#a77;,a74 4 7b7 ,effective date ,the amendments made by this section shall apply to taxable years beginning after ,december #ca1 #bjai4 #d4 ,treatment of medical care service arrangements 7a7 ,inclusion as medical expenses ,paragraph 7#b7 of section #bbc7;d7 of the ,internal ,revenue ,code of #aihf1 as amended by section #d1 is further amended by adding at the end the following new subparagraph3 7,c7 ,inclusion of medical care service arrangements ,the term qualified medical expenses shall include-- 7i7 periodic fees paid to a physician for a defined set of medical services or for the right to receive medical services on an as-needed basis2 and 7ii7 amounts prepaid for medical services designed to screen for1 diagnose1 cure1 mitigate1 treat1 or prevent disease and promote wellness4 4 7b7 ,arrangement not ,to be treated as health insurance ,subsection 7c7 of section #bbc of the ,internal ,revenue ,code of #aihf1 as amended by section #b7;b71 is further amended by adding at the end the following new paragraph3 7#d7 ,treatment of medical care service arrangements ,an arrangement under which an individual is provided medical services in exchange for a fixed periodic fee or payment for such services shall not be treated as a health plan1 insurance1 or arrangement described in paragraph 7#a74 4 7c7 ,effective date ,the amendments made by this section shall apply to taxable years beginning after ,december #ca1 #bjai4 #e4 ,periodic provider fees treated as medical care 7a7 ,in general ,section #bac7;d7 of the ,internal ,revenue ,code of #aihf is amended by adding at the end the following new paragraph3 7#ab7 ,periodic provider fees ,periodic fees paid for a defined set of medical services provided on an as-needed basis shall be treated as amounts paid for medical care4 4 7b7 ,effective date ,the amendment made by this section shall apply to taxable years beginning after ,december #ca1 #bjai4 #f4 ,expanding over-the-counter drug coverage and restoring lower penalty for nonqualified distributions 7a7 ,over-the-,counter coverage ,section #bbc7;d77#b77;,a7 of the ,internal ,revenue ,code of #aihf is amended by striking the last sentence and inserting the following3 ,such term shall include an amount paid for any prescription or over-the-counter medicine or drug44 7b7 ,penalty ,section #bbc7;e77#d77;,a7 of the ,internal ,revenue ,code of #aihf is amended by striking #bj percent and inserting #aj percent4 7c7 ,effective date ,the amendments made by this section shall apply to distributions made in taxable years beginning after ,december #ca1 #bjai4 #g4 ,treatment of health care sharing ministries 7a7 ,inclusion as medical expenses ,paragraph 7#b7 of section #bbc7;d7 of the ,internal ,revenue ,code of #aihf1 as amended by sections #d and #e1 is further amended by adding at the end the following new subparagraph3 7,d7 ,inclusion of health care sharing ministries ,the term qualified medical expenses shall include amounts paid by a member of a health care sharing ministry 7as defined in section #ejjj;,a7d77#b77;,b77ii77 for-- 7i7 the sharing of medical expenses among members1 and 7ii7 administrative fees of the ministry4 4 7b7 ,health care sharing ministry not ,to be treated as health insurance ,subsection 7c7 of section #bbc of the ,internal ,revenue ,code of #aihf1 as amended by sections #b and #e1 is further amended by adding at the end the following new paragraph3 7#e7 ,treatment of health care sharing ministries ,a health care sharing ministry 7as defined in section #ejjj;,a7d77#b77;,b77ii77 shall not be treated as a health plan or insurance for purposes of this title4 4 7c7 ,effective date ,the amendments made by this section shall apply to taxable years beginning after ,december #ca1 #bjai4 ,,ix #bjai tax filing deadline extension #a4 ,extending deadline to ,november #ae1 #bjbj 7a7 ,in general ,for purposes of any return made under section #fjab7;a77#a71 #fjac1 or #fjag on the basis of calendar year #bjai1 section #fjgb7;a7 of the ,internal ,revenue ,code of #aihf shall be applied by substituting #aeth day of ,november for #aeth day of ,april4 7b7 ,interest on withholding overpayments ,for the purposes of any tax deducted and withheld at the source during calendar year #bjai1 section #feac7;b77#a7 of the ,internal ,revenue ,code of #aihf shall be applied by inserting 7the #aeth day of ,november in the case of a taxable year ending on ,december #ca1 #bjai7 before the period at the end4 7c7 ,failure by individual ,to pay estimated income tax ,in the case of an installment of estimated tax with respect to #bjai1 section #ffed7;b77#b77;,a7 of the ,internal ,revenue ,code of #aihf shall be applied by inserting 7the #aeth day of ,november in the case of a taxable year ending on ,december #ca1 #bjai7 before the comma at the end4